Investor Expectations in 2026: What Has Changed Since Financial Close?

Return expectations, risk appetite and what makes a project attractive have all shifted since the first wave of BESS. What signals are investors watching and which assets are attracting follow-on capital?

• Investors have revenue and performance data to work with rather than modelled assumptions. How has that changed the way deals are structured?
• Which assets are attracting follow-on capital, and what do they have in common
• How are investors pricing connection delays into new deals, and has it changed appetite for early-stage exposure?
• What does a credible asset management strategy look like to an investor in 2026